judy.legal
Login Register

NEW RESOURCES INT'L LTD. & ANOR v. EJIKE ORANUSI, ESQ.

(2010) JELR 33206 (CA)

Court of Appeal  •  CA/L/461/08  •  15 Dec 2010  •  Nigeria

Coram
ADZIRA GANA MSHELIA JCA; JOHN INYANG OKORO JCA; MOHAMMED AMBI-USI DANJUMA JCA;

Judgement

JOHN INYANG OKORO, JCA (Delivering the Leading Judgment): The Respondent, Ejike Oranusi Esq., who was the Petitioner at the Federal High Court, Lagos, together with his brother, late Chief Ikechukwu Oranusi, was the only Directors and Shareholders of New Resources International Limited, the 1st Appellant herein. The company's issued share capital was 10,000,000 ordinary shares which were held thus, 4,000,000 by the Respondent and 6,000,000 by late Ikechukwu Oranusi who was the Managing Director of the company. Sometime in July, 2005, the 2nd Appellant approached the late Chief Ikechukwu Oranusi for the purchase of the entire shares and business of the 1st Appellant Company. After subsequent negotiations, the parties agreed for the sum of ₦3,800,000.00 (three million, eight hundred thousand naira only) as purchase price which the 2nd Appellant paid for the acquisition of all shares and business of the company. One Mr. J.A. Agwuncha, said to be company secretary and Legal Adviser of the…

There's more. Sign in to continue reading

JUDY is the comprehensive database of case law and legislation from Ghana, Kenya and Nigeria. Gain seamless access to over 20,000 cases, recent judgments, statutes, and rules of court.


Get started   Login